UAE. In a significant enhancement of its initiatives to attract investments into the UAE from global markets, Ajman Free Zone (AFZ), today said that it has identified five new key markets where it will set up hub offices this year as part of its global investor outreach strategy.

In a statement, AFZ said the expansion of the free zone’s global footprints follows its highly successful earlier endeavors in attracting investors into the UAE from different parts of the world across Asia, Africa and Europe, which has resulted in the free zone housing over 22,000 enterprises from diverse geographies of the world.

“AFZ has sourced considerable overseas investments into the free zone, out of which a substantial share is FDI sourced by the free zone’s nine global offices across the world. Over the years, the USPs of AFZ as an investment destination - particularly its investor-friendly smart solutions -, have been widely acknowledged by global investors as a one-of-its-kind, especially for new entrepreneurs who would like to have a scalable platform to grow their business,” said Mr. Mahmood Al Hashemi, Director General, AFZ.

The new AFZ global offices this year will be in Azerbaijan, China, Switzerland, Canada and Hong Kong. Earlier this year in May, AFZ had opened its office in Cyprus and in November last year in Moscow.

“Our international offices help us reach out to potential investors on a sustainable basis. Geographically, AFZ has been registering a lot more diversity in the uptake of our smart investment packages which are tailor-made for startups, e-commerce firms and SMEs - and we have been registering increasing global interest, particularly from companies looking to have nimble marketing hub setups in this region”, he said.

He added AFZ was a pioneer in offering easy investment options to investors such as varied installment options from one or two payment frequencies up to 12 monthly installments, smart office and warehouse spaces that are scalable upwards whenever investors are ready to expand.

“Our global strategy of investment sourcing is unique. We chose markets where AFZ sees potential after a thorough study assessing the investment appetite of companies in these markets, particularly in a context of their global expansion plans focused on the Middle East and North Africa (MENA) and the Indian Subcontinent, or markets in the geographical proximity to the UAE. AFZ offers an excellent hub and vantage point for these global companies to grow their business,” said Mr. Faisal Al Nuaimi, AFZ Deputy Director General.

Coupled with this is the advantage investors gain from the superior business facilitation services and diversity of investment propositions of AFZ that continues to attract global investors, he said.

“AFZ is also an organization with a fast turnaround reputation in issuing licenses which is in most of the cases is 24 hours. We have continued to receive consistent investments from across the world because we do not compromise on our sated mission of empowering and facilitating businesses of any size,” said Mr.. Rishi Somaiya, Sales Director, AFZ.

He added that the new offices will further catalyze AFZ’s efforts at increasing investments into the free zone as well as broad basing its investor base.

About Ajman Free ZoneAjman Free Zone (AFZ) was established in 1988, leading to massive industrial development in Ajman by attracting a great number of companies to benefit from the investment privileges, thereby strengthening industry and economy in the UAE. AFZ provides competitive privileges and facilities allowing companies to get a considerable return on their investment. AFZ continues to develop its infrastructure, spending millions of Dirhams along its free zone area of more than one million square meters.

The strategic location advantages of AFZ include reach to international airports within 25 minutes. AFZ is located opposite Ajman Port. The free zone offers 100% ownership, easy transfer of capital and profits, exemption from personal income tax, exemption from import and export duties, competitive prices on facility usage and competitive prices for power/electricity.

The advantage also includes competitive prices on leasing, easy access to low cost labour and well developed infrastructure. It also offers one-stop counter service for effecting transactions and fast and easy procedures and in most cases issues the license within 24 hours